NVIDIA Corp (NASDAQ: NASDAQ:NVDA) shares are trading higher Tuesday following reports the company will offer a new advanced chip in China that meets recent export control rules.
According to a Reuters report, Chinese computer sellers are advertising products with the new Nvidia chip. The report indicates that Nvidia confirmed the new chip, called the A800, on Monday.
"The Nvidia A800 GPU, which went into production in Q3, is another alternative product to the Nvidia A100 GPU for customers in China. The A800 meets the U.S. Government’s clear test for reduced export control and cannot be programmed to exceed it," a Nvidia spokesperson said in a statement to Reuters.
Nvidia's A800 chip marks the first reported effort by a U.S. semiconductor company to create advanced processors for China that meet the new U.S. trade rules.
Nvidia previously said the export limitations could cost it hundreds of millions of dollars in revenue. The company reportedly declined to comment on whether it made the Commerce Department aware of the new chip.
Related Link: Nvidia's New Chip May Sidestep US Ban On China Exports: What Investors Need To Know
Nvidia is set to report its third-quarter financial results on Nov. 16.
NVDA Price Action: Nvidia has a 52-week high of $307.11 and a 52-week low of $108.13.
The stock was up 2.92% at $147.20 at time of publication, according to Benzinga Pro.
Photo: courtesy of Nvidia.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.